Lithuania-based identity verification, compliance, and fraud prevention company, iDenfy, has recently entered a strategic partnership with UK-based provider of ethical residential proxies, Ping Proxies.
The partnership aims to boost the KYC onboarding process for web-data users through AI-powered identity verification. Ping Proxies will leverage iDenfy’s KYC software while ensuring its proxy infrastructure remains protected from fraudulent sign-ups.
Ping Proxies entered business as an ethically sourced provider of residential proxy networks, currently boasting more than 35 million IPs and high-performance static ISP proxies through over 15 countries. The company helps businesses in diverse industries, including digital marketing, ecommerce, and competitive intelligence to collect and analyse data at scale.
As its customer base expanded rapidly over the years, Ping Proxies faced the challenge of verifying users at scale without compromising onboarding speed and security. By implementing iDenfy’s proprietary and robust identity verification solution, Ping Proxies now switched to a fully automated user onboarding journey, streamlining its KYC process while also ensuring high data security.
More details about the partnership
iDenfy’s ID verification solution allows Ping Proxies to not only confirm customer identities within seconds through biometric facial recognition but also handles ID document verification and passive liveness. Clients benefit from a user-friendly interface where they can directly upload government-issued IDs and selfies. Then, iDenfy’s AI tech processes the information and send its over to a 24/7 human verification team that further handles extra cases to ensure full accuracy.
Currently, iDenfy’s solution supports more than 3,000 document types from over 200 countries and territories, which allows Ping Proxies to scale their business globally. The dual-layer model leverages the convenience of AI and the accuracy of human detection to bring verification accuracy rates to over 99.99%, significantly reducing drop-offs and eliminating fraudulent sign-ups.
The on-growing issue with identity fraud
According to a 2024 report by Javelin Strategy & Research, financial losses directly linked to identity fraud totalled USD 47 billion in the US alone, highlighting the risks of digital-first companies, especially when it comes to onboarding.
iDenfy’s platform is specifically designed to deliver the necessary tools to help businesses scale, maintain trust, and prevent fraud risks. The company provides AML, KYC, and KYB compliance for its customers.
